Turbo Protocol Unveils a Revolutionary Layer 2 Solution, Processing Transactions at Unprecedented Speeds of 400k TPS

The creators behind the Ethereum Layer 2 solution, Turbo Protocol, have made waves in the blockchain sector after introducing their new high-performance sidechain.

Creators of Ethereum Layer 2 solution, Turbo Protocol, made waves in the blockchain sector after introducing their new high-performance sidechain, which can process up to 400,000 transactions per second (TPS).

Announced at the Blockchain Application Stanford Summit, this discovery solidifies Turbo Protocol as one of the frontrunners in a mission to create cost-effective and high-throughput blockchain solutions.

HAPPENING NOW: Turbo’s Founder, Aaron, takes the stage at @StanfordCrypto’s BASS event to talk about Turbo Protocol’s approach to bring parallel execution to Geth pic.twitter.com/nBcnQHRzl9

— Turbo Protocol (@TurboProtocol) August 6, 2024

At the New York City Summit, Turbo Protocol performed a live demonstration of just how capable its blockchain is. This new Layer 2 network, with its innovative parallel transaction processing, enables applications to function without the need for expensive Ethereum gas. Unlike Ethereum’s inherent sequential processing, it allows for the simultaneous recording of many transactions.

“This is a game changer for the blockchain industry. Our technology will enable applications to scale like never before, breaking free from the constraints of traditional sequential transaction processing,” said Aaron Greenblatt, CEO of Turbo Protocol.

With the Ethereum base layer processing 20–30 transactions per second, Solana with just over 1,000, and Visa at around 24,000, the mention of Turbo Protocol’s TPS (400k) should be seen as nothing short of a groundbreaking promise towards transformation for all parties involved.

The burning question on everyone’s mind now is whether such a high TPS will lead to a reduction in gas prices on the Ethereum network. Stay tuned for further updates on this front.

In the meantime, here’s a quick overview of some of the other key highlights from the world of cryptocurrency over the past 24 hours:

- Ether token fell hostage to market turbulence after U.S. recession fears took over on Monday. In all this technological growth, the Ethereum price, currently $2,500, has seen a slight uptick. In the last 48 hours, its price rose by 4.49%.

- Six enormous wallet addresses belonging to the Nomad Bridge Exploiter group procured a considerable amount of Ether, totaling $340 million, as per on-chain analytics firm Lookonchain.

- These whales purchased 144,071 ETH for an average price of $2,300 per ETH, indicating that they were investors willing to buy the dip with great optimism.

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